Ensign Energy Services (TSE:ESI) Stock Price Crosses Above 200-Day Moving Average – Here’s Why

Ensign Energy Services Inc. (TSE:ESI)’s stock price passed above its two hundred day moving average during trading on Wednesday . The stock has a two hundred day moving average of C$3.68 and traded as high as C$3.90. Ensign Energy Services shares last traded at C$3.85, with a volume of 220,533 shares.

Analyst Ratings Changes

A number of analysts have recently commented on ESI shares. ATB Cormark Capital Markets upgraded shares of Ensign Energy Services from a “sector perform” rating to an “outperform” rating and lifted their price target for the stock from C$4.00 to C$5.00 in a research note on Tuesday, May 12th. TD lowered their price target on Ensign Energy Services from C$3.75 to C$3.50 and set a “hold” rating for the company in a research report on Monday, July 13th. One investment analyst has rated the stock with a Buy rating and three have issued a Hold rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of C$3.75.

Ensign Energy Services Stock Down 2.6%

The firm has a 50 day simple moving average of C$3.51 and a two-hundred day simple moving average of C$3.68. The company has a market capitalization of C$682.01 million, a PE ratio of -16.82, a P/E/G ratio of 202.94 and a beta of 1.33. The company has a current ratio of 1.24, a quick ratio of 1.30 and a debt-to-equity ratio of 73.88.

Ensign Energy Services (TSE:ESI) last announced its quarterly earnings data on Friday, August 7th. The company reported C($0.07) earnings per share (EPS) for the quarter. Ensign Energy Services had a negative net margin of 2.45% and a negative return on equity of 3.11%. The firm had revenue of C$397.33 million for the quarter. Research analysts expect that Ensign Energy Services Inc. will post 0.2901354 EPS for the current year.

Ensign Energy Services Company Profile

Ensign is a global leader in oilfield services, headquartered out of Calgary, Alberta, operating in Canada, the United States and internationally. We are one of the world’s top land-based drilling and well servicing contractors serving crude oil, natural gas, and geothermal operators. Our premium services include contract drilling, directional drilling, underbalanced and managed pressure drilling, rental equipment and well servicing. Please visit our website at www.ensignenergy.com.